Is silver in high demand right now?

Silver is driven significantly more by industrial demand than gold (approximately 50% of industrial demand for silver versus only 10% of industrial demand for gold). The recovery from pandemic-related shocks also resulted in an increase in silver production in gold and lead and zinc mines, by 5.8 percent and 5.1 percent, respectively. Although the fall was short-lived, as the ratio rose again to 77 a few days later, Metals Focus analysts believe that the measure was indicative of a strengthening silver market. Many would also say (including me) that there are now more reasons than ever to accumulate IRA Gold and Silver bars and, at the same time, reduce the risks of paper and portfolio counterparts. London-based precious metals consultancy Metals Focus is researching the Silver Institute's annual report on the international silver market for publication.

In the next atonement, many citizens choose to keep silver and gold ingots (dear reader, you can include me on the list). The precious metal is also expected to continue to increase thanks to the green economy, a sector in which silver already has a strong presence due to its use in photovoltaic (PV) energy for solar panels. Concerns that inflation will continue to increase the lifetime costs of the mine are likely to affect both the silver market and the price of the white metal. The current environment may be dominated by risk-averse behavior, but that is not the main factor for long-term demand for silver, especially given its dual nature as a precious metal and an industrial metal.

The rise in the price of gold and the growth of the medium-price jewelry markets have led many jewelry and fashion designers to turn to silver as a medium of choice. The survey was researched and produced for the Silver Institute by Metals Focus, the independent precious metals consultancy based in London. Despite the saving of metals, which has already reduced the silver content in photovoltaic cells by 80% over the past decade, demand is expected to grow over the next five years.